Week Ahead

Next week, the most important data for the US include the second estimate of GDP growth, ISM Manufacturing PMI, personal income and spending, PCE inflation, and pending and new home sales. Investors will also be looking for updated UK GfK consumer confidence and BoE monetary indicators; the Euro Area business survey, inflation and jobless rate; Japan inflation, unemployment and household spending; China PMIs; and Canada, India and Brazil GDP figures.

In the US, the most important releases will be the second estimate of GDP growth for the third quarter, ISM Manufacturing PMI, personal income and spending, PCE prices, and pending and new home sales. Other important data include: Construction spending; total vehicle sales; house prices from both S&P/Case-Shiller and Fannie Mae and Freddie Mac; CB consumer confidence; Dallas Fed Manufacturing Index; Richmond Fed Manufacturing Index; Chicago PMI; corporate profits; advance estimates of goods trade balance and wholesale inventories; and the final reading of Markit Manufacturing PMI.

In the UK, investors will be closely watching GfK consumer confidence, Bank of England's consumer credit and mortgage approvals, Markit Manufacturing PMI and Nationwide house prices. Elsewhere in Europe, third quarter GDP figures and Manufacturing PMIs will be released for several countries. Markets will also focus on the Eurozone business survey, inflation rate and unemployment rate; Germany GfK consumer confidence, inflation, retail trade and jobless rate; France consumer sentiment; and Italy business and consumer morale.

In Japan, important data include inflation rate, unemployment, household spending, retail trade, industrial production, construction orders and housing starts. Meanwhile, China will release figures for official manufacturing and non-manufacturing PMI. Industrial profits and the Caixin manufacturing PMI will also be closely watched. In Australia, HIA new home sales, private sector credit, building permits and AIG Manufacturing Index will be in the spotlight.